Bandwidth (BAND) COO Devesh Agarwal Sells Shares After Option/RSU Conversion

What Happened

• Devesh Agarwal, Bandwidth Inc. (BAND) Chief Operating Officer, converted/exercised derivative awards (treated as RSUs/options, code M) into 11,231 shares on Aug 28, 2026 (acquired at $0). He then sold 4,869 of those shares in open-market transactions on Aug 31, 2026 for total proceeds of about $239,292 (two sales: 2,849 shares and 2,020 shares).

Key Details

• Transactions and amounts:
  • Aug 28, 2026: Converted/exercised 3,927 + 2,086 + 5,218 = 11,231 derivative units into common shares (acquired at $0).
  • Aug 31, 2026: Sold 2,849 shares at a weighted-average price of $48.82 (range $48.29–$49.28) for ~$139,096. (Footnote F1)
  • Aug 31, 2026: Sold 2,020 shares at a weighted-average price of $49.60 (range $49.33–$49.6351) for ~$100,196. (Footnote F2)
• Total sale proceeds: approximately $239,292.
• Footnotes: F3–F6 indicate these were Restricted Stock Units (RSUs) from grants made in Nov 2023, Nov 2024, and Feb 2025 with staggered vesting schedules; each RSU converts to one share upon vesting.
• Shares owned after the transactions: not specified in the provided filing excerpt — check the full Form 4 for post-transaction holdings.
• Filing date: Form 4 filed Sept 1, 2026; transactions occurred Aug 28 and Aug 31, 2026 — investors may review the filing for any late-filing notation.

Context

• This appears to be a common pattern where vested RSUs (no cash exercise cost) are converted into shares and a portion is sold in the open market, often to cover tax obligations or diversify. The filing shows both the conversion (acquisition of shares from derivative awards) and the subsequent open-market sales. No 10b5‑1 plan or gift/tax‑withholding language is indicated in the provided excerpt.